Potomac Yard | Del Ray | Old Town Alexandria Real Estate News

May 25, 2009

Woodbridge VA Short Sale | 4566 Perch Branch Way

4566 Perch Branch Way | Woodbridge VA Short Sale
Affordably Priced at $229,900

You'll be taken aback once you view the photos for this beautiful move-in ready home.  Have you been constantly searching and only finding Woodbridge VA real estate and homes for sale that need lots of work, haven't been maintained, and just aren't up to par?  Then you'll breathe a sigh of relief when you see this Woodbridge VA home for sale that has your name on it.

Three bedrooms, three full baths, one half bath, rear upper and lower decks, eat-in kitchen, all in this three fully finished level townhome.  Deceivingly large, bright, open, and super clean!  Bring your big furniture because our room sizes are functional and there's plenty of room to grow.  The living room has a gas fireplace, perfect for relaxation.

Note: Tamara Inzunza of McEnearney Associates Inc. is a Certified Distressed Property Expert (CDPE Agent) specializing in helping homeowners with short sales in the areas of Alexandria, Lorton, and Woodbridge VA.  If you are facing a financial hardship, and need to speak confidentially with an experienced agent, please email me, or visit www.AlexandriaShortSale.info to see if you qualify for a short sale.



Posted in Sellers, Short Sales
May 25, 2009

Memorial Day Greetings

Posted in Fun, News
April 29, 2009

Laurel Hill Home For Sale | 8125 Bluebonnet Drive

Lorton VA Real Estate And Homes For Sale | The Estates Collection
At Laurel Hill | The Wentworth | $765,000

Seldomly available Grand Wentworth model now available in the Estates Collection of Laurel Hill.  Open floor plan built by Pulte homes, this beautiful brick front colonial boasts four generously sized bedrooms, three full baths, and two half baths.  Other special touches include:

  • Marble entry foyer
  • Custom crown and chair moldings
  • Butler's pantry + walk-in pantry
  • Rear gourmet kitchen with corian countertops, gas cooking, double wall oven, side-by-side refrigerator, and built-in microwave
  • Step down family room with gas fireplace
  • Rear office with built-in bookshelves
  • 'Jack-and-Jill' baths upstairs
  • Princess suite with walk-in closet and full bath
  • Master bedroom with sitting room
  • Landscaping, rear upper deck, lower patio, fenced back yard backing to private trees

If you're in the market for Lorton VA real estate and homes for sale, or homes for sale in Laurel Hill, put this move-in ready home at 8125 Bluebonnet Drive at the top of your list.


Posted in Buyers
April 23, 2009

Beware Of Upfront Costs When Buying A Foreclosure Or Bank Owned Home In Alexandria VA

The Alexandria VA real estate market has its fair share of foreclosure and bank owned (REO) homes for sale. As the banks get ready to unleash a new wave of foreclosures into the real estate market, I thought it would be good to offer you some insight on the expenses you may incur as a buyer when looking at foreclosure and REO homes for sale in Alexandria VA.

Some of the phrases that you will commonly see in the remarks of a foreclosure listing can include 'AS-IS', or 'Home has been winterized', or 'Buyer responsible for utilities for any and all inspections'.
While many Alexandria VA home buyers only consider the sales price as a deep discount on a foreclosure or REO home for sale, there can be out of pocket expenses even before the sale is final. For example, the average home inspection will range $300-$500 depending on the size of the home. Other inspections such as radon can cost up to $150, a termite inspection $50, and a roof inspection $150-$200. But if there are no utilities, and the home has been winterized, you may also have to incur the cost of hiring a plumber to de-winterize the home and turn on ALL of the utilities in your name. All this before you've even fully commited to the home purchase!

Banks will pay to have a home winterized to limit their liability and the likelihood that pipes will burst in the home during the cold weather months. Where there's water, there's eventually mold, so banks reduce the risk of property damage by winterizing the home. And shutting off the utilities deters squatters.

All bank foreclosures in Alexandria VA are advertised as being sold in as-is condition, but the buyer is usually given a specific time period for inspections. Once the inspections are complete, you will have to shut off the utilities and pay to have the home re-winterized. Even if you decide to move forward with the purchase after the inspections, the bank still bears the liability until closing so they will want the home to stay in a 'vegetative state' until the deal is done.

Distressed properties for sale in Alexandria VA can indeed be a great opportunity to find a below market deal.  But buyers should understand that preparing a home for an inspection is an additional expense.  It's part of the cost of getting a good deal.


Posted in Buyers
April 23, 2009

Woodbridge Area VA Short Sale | Home For Sale In Southbridge

Posted in Sellers, Short Sales
April 1, 2009

Buying Alexandria VA Real Estate? Top Five Things Sellers Want From You

The first quarter of 2009 is just about over, and the ride was starting to smooth out toward the end.  Over the next two weeks, you'll be hearing updated housing statistics on a national level, but please feel comfortable emailing me for a customized Market Snapshot of your Alexandria VA neighborhood or zip code.

My opinion is that the second quarter of 2009 will have numbers more worth talking about.  With the First-Time Homebuyer tax credit in play, and the busy rental renewal season of April, May, and June, I expect to see more buyers take advantage of the lower pricing, interest rates, and tax credit as opposed to riding it out one more year and making a commitment to another a long-term lease.

The real estate spring busy season also stirs competition among buyers.  Sellers who brave the wild of an Alexandria VA buyers market may still have the luxury of cherry picking from multiple offers. If you find yourself in a multiple offer situation, here's how you can help nudge your offer out in front:

  • Earnest Money Deposit - There is no industry standard for how much an earnest money deposit has to be. A good rule of thumb is for it to be 1% of the sales price or higher. The higher your earnest money deposit, the more confidence the seller may have that you won't just walk away from a deal.
  • Financing - The market has successfully weeded out many bad (predatory) lenders, and others lending institutions have simply failed. Sellers and their listing agents are looking for a mortgage approval letter from a local, reputable lender stipulating the type of financing for which you've been approved.
  • Closing Date - If you're stretching your closing date beyond 45 or 60 days, that can actually force you out of the game.  A buyer who can close quickly gives the seller the impression that financing is secure, and a firm commitment can be made and kept.  Extended closing dates allow too much time for issues to arise that can affect financing, or other previously agreed upon terms of the contract.
  • Inspections - It's normal to have a home inspection in this market.  You may put yourself ahead of the pack by completing a pre-contract inspection. Recently, one of my colleagues was one of 29 buyer contracts, and he WON because his buyers did a pre-contract inspection and only asked for certain things, as opposed to using the home inspection as another negotiating point in the sale.  The seller was relieved because there was one less contingency, and repair requests were made up front and addressed with the offer.
  • Sale of Home - If you have a home to sell in Alexandria VA, make sure that your home is actively on the market and under contract with a stong buyer.  Most sellers will not feel comfortable taking their house off the market and waiting for you to find a buyer.

Well, the list is over and did you notice that I didn't mention price?  That's because price is not always the strongest term in a sales contract.  For example, an offer that is $5,000 less than the asking price but the buyer is willing to close in three weeks, is more attractive than a full price offer with a 90-day closing.

In Alexandria Virginia, the spring real estate market is usually very competitive, especially in sought-after neighborhoods such as Old Town, Del Ray, Kingstowne, and Manchester Lakes. As your Realtor, you'll benefit from my twelve years of experience to help you successfully buy or sell a home in any market.


Posted in Buyers, Sellers
March 27, 2009

Lorton Virginia Short Sale | End Unit Townhome Close To Fort Belvoir

Posted in Buyers, Short Sales
March 23, 2009

Washington DC Named Tenth Healthiest Housing Market In US By Builder Magazine

It can be rainy in Southern California, sunny in Madison, Wisconsin, and snowing in Witchita.  Just like the weather, real estate is local, and according to Builder Magazine, the Washington DC real estate market is the 10th best in the country.

With jobs as the leading factor contributing to our area's strength, Builder based their calculations on the number of building permits, population trends and job growth, and an examination of home prices.

Click the following link to view the article:


Posted in News
March 22, 2009

Alexandria VA Short Sale | Under Contract In Less Than 30 Days

Close In Condo Walking Distance To Metro | Alexandria Virginia Short Sale |
Under Contract - Exchange At Van Dorn
4852 Eisenhower Avenue, Unit 341


Alexandria VA real estate and homes for sale going, going, gone! This contemporary third floor condo with laundry room, upgraded kitchen, walk-in closet, and garage parking is no longer up for grabs!

Do you like the Exchange at Van Dorn condominium community in Alexandria, Va and would like to buy a one- or two- bedroom condo with garage parking? Click here to see all of the condos for sale at The Exchange at Van Dorn, or sign-up for new listing notificiations so that you don't miss the next Alexandria VA condo for sale that hits the market in the Exchange at Van Dorn!

If you considering selling your Alexandria, Virginia home as a short sale, please click here to see if you qualify.  As a Certified Distressed Property Expert (CDPE), I have the experience and training to help you understand all of your foreclosure avoidance options, and to help you navigate through this stressful time.  When we save a home, we save a family.


Posted in Buyers, Condos, Short Sales
March 13, 2009

Who Should Be Buying Alexandria Virginia Real Estate Right Now?

Despite the constant negative news reports, I'm happy to share that we sold 22 homes at McEnearney Associates Inc. (Old Town Alexandria office) last week with the notable volume being in the $200,000 - $600,000 price range.

You may be confused between positive reports and negative reports in the media, so I wanted to use this week's tip to help clarify some things and to shed some light on some of the most commonly asked questions that I face weekly.

Who Should Be Buying Real Estate and Homes For Sale In Alexandria VA Right Now?

  • Anyone who has stable employment. Lenders are looking for a two-year job history.  If you have recently changed jobs, as long as your new job is in the same field of business, then you're in a much better qualifying position.
  • Active military and veterans. You can buy home using a VA loan, with zero down payment, and finance up to $812,500.
  • First-time home buyers. In many areas, there is still competition among first time home buyers.  Well-priced homes (both distressed and non-distressed properties) are seeing multiple offers, and especially below $300,000 some homes are still being sold above the asking price.  With the VHDA loan, first-time home buyers can take advantage of 1.5% down payment AND below market interest rates.  And paired with local housing authority programs, like Alexandria City's SPARC program, or Moderate Income Homeownership program, additional down payment assistance of up to $30,000 may be within reach.
  • Buyers who want a fixer upper at below market value. With the FHA 203k loan, you are able to finance the estimated repair costs into the home mortgage.  If you've found a $250,000 home in a $500,000 neighborhood, this is the loan for you.  And yes, below market real estate deals can be found throughout Alexandria, including Old Town, Del Ray, Kingstowne, and Manchester Lakes. This loan can help you make 'UGLY' houses, look beautiful, and is one of the best tools to gain instant equity.  If you've seen a fixer-upper in a great neighborhood, don't pass it up because you may be concerned about out-of-pocket fix up expenses.  If you've encountered multiple offer situations as an active buyer when considering move-in ready homes, outsmart your competition by expanding your search to include homes that need some TLC.
  • Investors with cash. The best low-end deals right now are OUTSIDE the beltway.  And with prices down, real estate investors now have the ability to purchase income properties, and the market rent will now cover the monthly mortgage.  Two years ago, this was impossible because of the high real estate prices. Northern Virginia Real Estate For Sale Under $150,000: In Arlington County: 46 homes; Alexandria City: 46 homes; Fairfax County: 341 homes; Prince William County: 546.

Who Should Be Selling Alexandria VA Real Estate Right Now?

  • Homeowners with a home value of less than $500,000 with equity.  This is the price range that is sure to get attention, and according to market statistics, homes in the $500,000+ price range are experiencing longer days on market.  If you're selling and buying up, you'll have less competition and more negotiating power on price when you've sold your home.
  • Distressed sellers who are behind on their mortgage.  Banks do not want your house back. Short sales in Alexandria Virginia (VA) are becoming more common and banks are developing strategies to get short sales approved in quicker times.  I recently sold a short sale and we received bank approval in two weeks with buyer paid closing costs.  If you are a homeowner facing a financial hardship, click here to see if you qualify for a short sale in Alexandria VA.  We may be able to help you avoid foreclosure and protect your credit.
  • Homeowners close-in and who are move-in ready. People are getting GREENER. More buyers want walkable neighborhoods, close to metro.  Areas like Old Town, Del Ray, Kingstowne, and Manchester Lakes are walkable, pet friendly, and conveniently located near metro, public transportation, HOV, and the interstates.  We're seeing that more buyers prefer to go car-less and homes close to metro and with a high walkscore are fairing well in the market.  If you're in a good location, location, location, and you're close in, now may be a good time to sell your home.



Posted in News